.....- Apple will pay $9.2 million in tax revenue directly to Cupertino in 2013, approximately 18% of the city's annual general fund budget. The consultants estimate that Apple will generate a net fiscal surplus of $8 million to the city this year, with that expected to grow to $11 million when the new campus is finished. This means Apple will pay millions of dollars more to the city than it uses in services.
- The construction of the new campus will generate 9,200 full-time jobs in the county over the three-year construction period, and will generate one-time revenues to the City of Cupertino in the form of construction taxes and fees totaling more than $38 million. The company has agreed to direct its contractors to purchase all construction materials from within the city, ensuring that Cupertino collects millions of dollars in sales taxes as a result.
- The report touts $66 million in public improvements to be built around the campus, including bicycle and pedestrian facilities, park land, and a voluntary $2.5 million contribution to Cupertino's affordable housing fund.
Article Link:
Apple Releases Economic Impact Report on 'Spaceship Campus'